Saturday, 1 November 2014
Last updated 18 hours ago
Mar 26 2013 | 11:59am ET
Doug Whitman, a former hedge fund manager convicted of insider-trading last year, has agreed to pay $1.8 million to settle Securities and Exchange Commission charges.
Whitman and his firm traded on confidential information about Google Inc. and Polycom Inc. that he received from former Galleon Group trader Roomy Khan, who testified against him. Khan was his neighbor in California.
Whitman earned more than $900,000 on Khan's tips. After his conviction, he was ordered to pay nearly $1.2 million in forfeiture and fines; the forfeiture will be set against the SEC settlement, meaning Whitman owes less than $900,000 more.
In addition to the monetary penalties, Whitman, who was sentenced to two years in prison, agreed to be barred from the securities industry.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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